Remove Acceptable Risk Remove Healthcare Remove Insurance
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Third-Party Due Diligence Best Practices

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For example, your human resource department possibly links to healthcare insurance providers using a web-based application. While some business partners are easy to define, the risks to your data environment come from being interconnected within an overarching ecosystem. Different business areas require other vendors.

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The Difference Between Strategic and Operational Risk

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Since operational risks are constant, varied, and increasingly complex, ORM is an ongoing activity. It is guided by four fundamental principles: Accept no unnecessary risk. Accept risk when benefits outweigh costs. Make risk decisions at the appropriate level. Anticipate and manage risk with planning.

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Important KPIs for Successful Vendor Management

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Before outsourcing your business processes or striking some other deal with vendors, you do need to assess the risks they pose. The six risks listed below are a good place to start. Begin by determining your organization’s tolerance for cybersecurity risk. Cybersecurity.